Iovance Biotherapeutics Inc (IOVA) to Post FY2018 Earnings of ($1.29) Per Share, Jefferies Financial Group Forecasts

Iovance Biotherapeutics Inc (NASDAQ:IOVA) – Research analysts at Jefferies Financial Group lifted their FY2018 earnings per share estimates for shares of Iovance Biotherapeutics in a report issued on Tuesday, November 6th. Jefferies Financial Group analyst B. Amin now forecasts that the biotechnology company will earn ($1.29) per share for the year, up from their previous estimate of ($1.35). Jefferies Financial Group also issued estimates for Iovance Biotherapeutics’ Q4 2018 earnings at ($0.29) EPS, FY2019 earnings at ($1.11) EPS, FY2020 earnings at ($1.35) EPS, FY2021 earnings at ($0.50) EPS and FY2022 earnings at $1.31 EPS.

IOVA has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Iovance Biotherapeutics from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Wednesday, October 17th. Citigroup boosted their target price on shares of Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, October 12th. HC Wainwright reiterated a “buy” rating and issued a $26.00 target price (up from $22.00) on shares of Iovance Biotherapeutics in a report on Friday, October 12th. Cowen reiterated a “buy” rating on shares of Iovance Biotherapeutics in a report on Tuesday. Finally, BidaskClub downgraded shares of Iovance Biotherapeutics from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $23.75.

NASDAQ IOVA opened at $8.97 on Friday. Iovance Biotherapeutics has a 12 month low of $7.40 and a 12 month high of $19.90. The company has a market capitalization of $841.21 million, a P/E ratio of -6.36 and a beta of 3.03.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.03).

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fred Alger Management Inc. purchased a new position in shares of Iovance Biotherapeutics in the second quarter worth approximately $102,000. Trexquant Investment LP purchased a new position in shares of Iovance Biotherapeutics in the second quarter worth approximately $129,000. Amalgamated Bank purchased a new position in shares of Iovance Biotherapeutics in the second quarter worth approximately $161,000. Xact Kapitalforvaltning AB purchased a new position in shares of Iovance Biotherapeutics in the first quarter worth approximately $174,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Iovance Biotherapeutics by 61.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,918 shares of the biotechnology company’s stock worth $178,000 after acquiring an additional 5,318 shares in the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. The company's lead product candidate is LN-144, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.

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Earnings History and Estimates for Iovance Biotherapeutics (NASDAQ:IOVA)

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